🦎🚀 Schrödinger's ETH 📦🪙

Wednesday, May 24, 2023

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Exchange FUD never ends

According to a new report from Reuters, three unnamed sources say Binance commingled billions worth of customer funds in 2020 and 2021.

Though, the news outlet did note that they could not independently verify the figures or frequency of the transactions. It also said that it found no evidence Binance lost the supposedly commingled funds.

These claims have been denied by Patrick Hillman, Binance's chief communications officer.

In today's news, Ledger recovery service rollout paused, Chinese city launches government-backed metaverse platform, and officials say ETH can be both a security and a commodity.

Read on!

Analysis: ChatGPT Sparks Higher Valuations of AI Crypto Assets

OpenAI's brainchild, ChatGPT, sparked a revolution in artificial intelligence (AI), drawing 100 million users a few months after its launch on November 30, 2022 – the fastest in history.

Dr. Lennart Ante, CEO of the non-profit research institute Blockchain Research Lab, unpacks his academic study The Influence of ChatGPT on Artificial Intelligence Related Crypto Assets, probing into the ripple effect of the 'ChatGPT effect' on AI crypto assets, and what it means for crypto.

24h Hot Searches Worldwide

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Is PEPE coin the next Dogecoin?

In this video, let's explore the origins of this cartoon frog and why it's taking over the world by storm!

Let's find out here!

Big Oops

Ledger has been doing damage control for a week since the announcement of its private key recovery service, 'Ledger Recover', which would allow users to backup their seed phrase split via three custodians for $9.99/month.

Guillemet added that the announcement and eventual postponement of the Ledger Recover service "has been a humbling experience on how to work with the community for future decisions."

Decrypt

The metaverse isn't dead

On May 22, Nanjing, the capital city of China's eastern Jiangsu province, inaugurated the China Metaverse Technology and Application Innovation Platform to foster and advance metaverse research and development across the country.

The newly established state-backed platform aims to bring together the resources of academic institutions and enterprises in China, which the city of Nanjing seeks to create a $20 billion dollar industry out of by the end of 2025.

Cointelegraph

Schrödinger's ETH

According to former Commodities Futures Trading Commission Commissioner Dan Berkovitz, Ether can simultaneously be both a security and commodity.

Berkovitz is also the former general counsel at the Securities and Exchange Commission, and said that it is legally possible for ETH to fall under the jurisdiction of both agencies as there exists overlapping legal definitions of commodities and securities.

Cointelegraph

Exquisite NFT collection draw

WhiteBIT, one of the biggest European crypto exchanges, is holding an NFT giveaway for its new users. Each month, 101 participants will have a chance to share an incredible prize pool.

To participate: